Eastman Chemical Company today announced a joint venture with Sinopec Yangzi Petrochemical Company Limited to build a world scale hydrogenated hydrocarbon resin plant in Nanjing, China. The venture will be equally owned by the two companies and the facility will produce 50,000 metric tons of Eastman's Adhesives and Plasticizers segment's Regalite™ hydrocarbon resins upon completion. The facility is expected be operational by the end of 2014 and will increase Eastman's total capacity for hydrogenated resins by 50%, making Eastman the largest global supplier of hydrogenated hydrocarbon resins.
"Eastman is committed to growing our hydrogenated resins product line and this joint venture positions us to serve the fast expanding market in Asia," said Ron Lindsay, executive vice president. "This new facility reinforces our dedication to growing with our customers and to meeting demand in China and all of Asia." "Eastman and Sinopec Yangzi Petrochemical Company Limited have a strong existing resin production relationship," said Michael Chung, senior vice president of international ventures. "This venture is mutually beneficial and globalizes our Regalite™ product line."